{"id":5808,"date":"2019-10-01T09:17:59","date_gmt":"2019-10-01T01:17:59","guid":{"rendered":"https:\/\/www.everydayonsales.com\/news\/?p=5808"},"modified":"2019-10-01T09:17:59","modified_gmt":"2019-10-01T01:17:59","slug":"forever-21-is-closing-down-as-company-files-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.everydayonsales.com\/news\/forever-21-is-closing-down-as-company-files-bankruptcy\/","title":{"rendered":"Forever 21 is Closing Down as Company Files Bankruptcy"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5811 size-full\" src=\"https:\/\/www.everydayonsales.com\/news\/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down-1.jpeg\" alt=\"\" width=\"1249\" height=\"656\" srcset=\"\/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down-1.jpeg 1249w, \/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down-1-300x158.jpeg 300w, \/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down-1-768x403.jpeg 768w, \/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down-1-1024x538.jpeg 1024w, \/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down-1-1170x615.jpeg 1170w, \/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down-1-585x307.jpeg 585w, \/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down-1-50x26.jpeg 50w, \/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down-1-100x53.jpeg 100w, \/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down-1-560x294.jpeg 560w\" sizes=\"auto, (max-width: 1249px) 100vw, 1249px\" \/>Bet most of you know Forever 21. For girls it&#8217;s a fashion paradise and for guys, it&#8217;s a place of waiting for girlfriend to shop. Bad news is that this American clothing store chain, Forever 21, have just filed for bankruptcy. This is another one of the biggest name in fashion is now going under (previously <a href=\"https:\/\/www.everydayonsales.com\/news\/gap-close-down\/\" target=\"_blank\" rel=\"noopener noreferrer\">GAP has closed down<\/a>).<\/p>\n<p>On Sunday, 29th September, the company apparel has filed for bankruptcy and company is set to close to an upward of 350 stores across 40 countries (mostly in Asia and Europe). Even so, the company has step forward to ensure customers that despite their bankruptcy announcement, a significant amount of their stores will be remain open.<\/p>\n<p>The major question on everyone mind is what exactly happened? How can a brand with so much value and recognition go bankrupt? The simple answer to the question is that they simply don\u2019t sell enough clothes. There is a change of shopping habit where mall traffic has declined and traditional retailers are struggling (including Forever 21).<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-5812 size-full\" src=\"https:\/\/www.everydayonsales.com\/news\/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down.jpg\" alt=\"\" width=\"750\" height=\"375\" srcset=\"\/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down.jpg 750w, \/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down-300x150.jpg 300w, \/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down-585x293.jpg 585w, \/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down-50x25.jpg 50w, \/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down-100x50.jpg 100w, \/wp-content\/uploads\/sites\/5\/2019\/10\/Forever-21-is-Closing-Down-560x280.jpg 560w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/>With the rise of online shopping that\u2019s halving their in-stores customers and steep competition from competitors such as Zara, Uniqlo, and H&amp;M have certainly affected Forever 21. Rental is not cheap where ususally Forever 21 is located at high end malls, which was part of the factor<\/p>\n<p>The company was founded in 1984 by South Korean immigrants and was once known for bringing fashionable clothes for very affordable prices when they started. But sadly, they will be going down as part of our memories.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bet most of you know Forever 21. For girls it&#8217;s a fashion paradise and&hellip;<\/p>\n","protected":false},"author":20,"featured_media":5811,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[67],"tags":[969,968],"class_list":["post-5808","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lifestyle","tag-forever-21","tag-forever-21-is-closing-down"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Forever 21 is Closing Down as Company Files Bankruptcy - EverydayOnSales.com News<\/title>\n<meta name=\"description\" content=\"Forever 21 a fashion paradise for girls Forever 21, have just filed for bankruptcy. 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